Phase I Audit for due diligence and property transfer
Compliance evaluation for potential property transfer and acquisition
Asbestos Survey: ECI turnkey project to identify asbestos containing materials
Phase I including on-going operations regulatory compliance evaluation
Property Transfers & Audits
Environmental due diligence can reduce the severity of future liabilities and can affect the outcome of an imminent real estate transaction. The timeline of the transaction, the expertise it demands, and the intended use, scope, and legal ramifications of the transaction’s due diligence must be considered. Environmental due diligence is generally conducted for the purpose of assessing a property involved in a real estate transaction for the presence of contamination (i.e., of soil, groundwater, indoor air, etc.). Contamination of these media may represent significant financial and legal liability to the parties involved in the real estate/property for several reasons. Liability can result from enforcement actions by the federal Environmental Protection Agency or state regulators; the impact of contamination on the marketability and, therefore, the value, of the subject property; mitigation from off-site properties impacted by a release from the subject property; or litigation by persons who claim to have suffered adverse health affects from contamination at the subject property.
Environmental Compliance Inc. (ECI) has performed numerous strategic environmental due diligence evaluations for industry and commercial real estate transactions working for attorneys, realtors, or directly for the seller or buyer. Congress codified standards for conducting environmental due diligence with the enactment of the Standards and Practices for All Appropriate Inquiries, the Final Rule (AAI). In turn, ASTM. E 1527, Standard Practice for Environmental Site Assessments: Phase I Environmental Site Assessment Process also was updated in 2005, satisfying the requirements of the AAI rule. To date, ASTM.E 1527 remains the most widely used industry standard for conducting the initial phase of environmental due diligence. ECI uses this standard when performing environmental due diligence for our clients.
In addition, to performing Phase I Environmental Site Assessments worldwide, ECI has performed Phase II Intrusive/Physical Investigations and provided numerous clients with turnkey removal of underground storage tanks (USTs), soil and groundwater remediation, borehole and monitoring well installations/sampling and analysis, and soil & groundwater management plans/documentation. For additional information on this subject please go to the heading for “Excavation & Disposal” and “Closure”.
ECI provides due diligence for acquisitions. Please go to the heading for “Due Diligence” for more information.